Impact of Food Sustainability Labels on the Price of Rice in Online Sales

Currently, the quality and safety of agricultural products and the enhancement of the agroecological environment are widely discussed. In response to solving the problem of insufficient exploitation of the market potential regarding sustainable agricultural products, this study uses rice on e-commerce platforms as an empirical case and constructs a hedonic price model aiming to explore the impact of the sustainable label on the price premium of agricultural products. The results show that: (1) There is a significant price premium for rice with sustainable labeling over ordinary rice, which is about 47.55%. In addition, within the types of sustainable labels, the price premium for rice with an organic food label is higher than that of rice with a green food label. (2) Except for the sustainable label, factors affecting the price premium of rice products include e-commerce platforms, rice varieties, package types, and whether it is imported. The price premium indicates the actual recognition and preference of consumers for agricultural products with the sustainable label. Departments of agricultural and food management departments should cooperate to improve the agricultural certification system (i.e., the sustainable label), further unblock a positive market mechanism of “green label—high quality—good price”, and facilitate the green transformation of China’s agricultural production from the consumer side.